India bags order from Sri Lanka for diesel sets and coaches

Monday, 17 April 2017 00:00 - - {{hitsCtrl.values.hits}}

Chennai: India’s leading railway coach manufacturer located in Chennai, Integral Coach Factory (ICF) has bagged an export order from Sri Lanka for diesel train units and coaches.

ICF General Manager, K. Mani said on Saturday, the train manufacturer has received an order from Sri Lanka for the supply of 78 diesel-electric multiple-units (DEMUs) and 160 coaches.

Sri Lanka’s Department of Railway in March entered into an agreement with India to purchase ten train engines and six power sets made in India under India’s credit line.

Sri Lanka has been granted $ 42 million for 10 engines, and $ 58 million for six power sets under the Indian Credit Line.

Carrying an interest rate of 1.75%, the line of credit will have a repayment period of 20 years. According to the agreement 75% of the goods and services should be sourced from India.